Artistone

Kraken Announces Waitlist for Coming NFT Marketplace

UTC by Ibukun Ogundare · 3 min read
Kraken Announces Waitlist for Coming NFT Marketplace
Photo: Unsplash

Creators also have reason to join the Kraken waitlist in anticipation of the Creator Earnings.

A few months after the initial announcement of the Kraken non-fungible market (NFT) marketplace, the crypto exchange has launched a waitlist for its NFT marketplace in beta. The waitlist announcement came months after Kraken CEO and co-founder Jesse Powell announced the NFT initiative. In December, Powell said his desire is for Kraken NFT users to be able to use NFTs as collateral for loans. However, the same was not mentioned in the recent update.

Revealing the waitlist in an announcement, Kraken highlighted the distinct features of the coming marketplace and implored NFT lovers to join the waitlist.

Waitlist for Kraken NFT Marketplace Is Live

According to the official blog post, Kraken said users would not pay blockchain network fees for trading NFTs custodied with the company. With no-gas fees incurred, Kraken said its NFT customers would be able to conduct their transactions with swift transfer speed and without worries of the alarming gas fees in the space. Users with Kraken crypto accounts can easily integrate their Kraken NFT accounts for easy transactions. As such, sellers can list their digital arts in any cryptocurrencies supported by Kraken. At the same time, these sellers will be able to list NFTs in EUR, USD, CAD, GBP, CHF, and AUD. After listing, buyers are at liberty to use the same currencies in bidding on NFTs.

Additionally, Kraken is making it easier for buyers to track the rarity scores of their NFTs. The rarity scores educate buyers and help them make informed decisions while purchasing NFTs. It estimates the uniqueness of each NFT. The exchange said:

“Kraken NFT comes with built-in tools that help you understand how rare certain characteristics of an NFT are as compared to other NFTs within the same collection.”

Another reason to join the waitlist, according to Kraken, is because Kraken NFT permits users to curate their collections across multiple blockchains. This means that customers can manage all of their NFTs holdings from various blockchains from a single network. Kraken NFT also promises security with “industry-leading security.”

Kraken NFT is not only providing special offers to buyers and sellers. Creators also have reason to join the Kraken waitlist in anticipation of the Creator Earnings, which is designed to reward the creators of each NFT collection on the marketplace. Creators will receive a fragment of each secondary market sale price of the NFTs they created.

NFTs’ Sudden Explosion

NFTs became a household name in 2021 when their trading volume on OpenSea exploded.  Between July and August, trading volume jumped from $300 million to more than $3 billion. Since then, the trading volume on the top marketplace has maintained over $2 billion monthly.

Last month, Coinbase announced the beta of the NFT marketplace with social engagement. The company added that it had over 8.4 million email addresses on the waitlist for Coinbase.

Blockchain News, Cryptocurrency news, News
Ibukun Ogundare

Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.

Related Articles